Eastman Chemical sells some CASPI businesses for $215M

NEW YORK (CBS.MW) - Eastman Chemical
EMN, -0.54%
said it sell part of its coatings, adhesives, specialty polymers and inks business (CASPI) to private investment firm Apollo Management for $215 million. Eastman Chemical will receive $165 million in cash and a $50 million note payable to Eastman. The chemical giant's stock closed Friday up 14 cents at $46.34.

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